CREDAI MCHI: Increase in Affordable Homes Supply by 27% in Jan-Sep

Supply of affordable homes increased by 27 per cent to 26,081 units across eight cities during January-September this year as against 20,485 a year-ago, a recent study said.

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CREDAI MCHI: Increase in Affordable Homes Supply by 27% in Jan-Sep

CREDAI MCHI: According to a study by real estate developers’ body CREDAI – MCHI (Confederation of Real Estate Developers’ Association of India – Maharashtra Chamber of Housing Industry) among new launches, almost 40 per cent of affordable housing projects were launched in Mumbai, followed by Kolkata and Pune.

Owing to various initiatives taken up by the government to boost affordable housing sector, the supply of affordable homes increased by 27 per cent to 26,081 units across eight cities during January-September this year as against 20,485 a year-ago, a recent study said.

Mumbai witnessed the highest number of launches at over 19,400 new residential units till September 2017, out of which affordable housing sector had a share of close to 10,000 units, registering a rise of 300 per cent over the same time last year.

Credai-MCHI President said in a statement that if things go the way sales are picking up, sales may even reach its peak in another six months. The implementation of RERA (Real Estate Regulation & Development Authority) and GST (Goods & Services Tax) boosted the confidence of home–buyers, who were swinging in a dilemma to buy a house.

The enhanced confidence resulted in many enquiries for the right kind of properties in Mumbai, which witnessed good traction during the current festive season, he added.
The association is also holding a three-days property expo from November 16 -19, 2017 in the megapolis.

Source Link- http://www.newindianexpress.com/pti-news/2017/nov/07/affordable-homes-supply-increases-27-in-jan-sep-credai-mchi-1694623.html

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